OCI: Getting Error "Curl error (6): Could not resolve host" While Running "yum update"

Applies to: 

Oracle Cloud Infrastructure - Version N/A and later

Oracle Linux x86-64 6 and later

Symptoms

Getting errors when running yum update:

# yum update -y
Oracle Linux 8 BaseOS Latest (x86_64) 0.0 B/s | 0 B 00:00
Errors during downloading metadata for repository 'ol8_baseos_latest':
- Curl error (6): Couldn't resolve host name for https://yum.us-ashburn-1.oracle.com/repo/OracleLinux/OL8/baseos/latest/x86_64/repodata/repomd.xml [Could not resolve host: yum.us-ashburn-1.oracle.com]
Error: Failed to download metadata for repo 'ol8_baseos_latest': Cannot download repomd.xml: Cannot download repodata/repomd.xml: All mirrors were tried

Cause

$ociregion.oracle.com